Abivax (NASDAQ:ABVX) Raised to “Hold” at Wall Street Zen

Abivax (NASDAQ:ABVX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the stock. Guggenheim boosted their target price on shares of Abivax from $50.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Abivax in a research report on Friday, July 18th. JMP Securities boosted their target price on shares of Abivax from $33.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 23rd. Morgan Stanley boosted their target price on shares of Abivax from $71.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Lifesci Capital boosted their target price on shares of Abivax from $45.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat.com, Abivax presently has an average rating of “Buy” and a consensus target price of $99.43.

Abivax Stock Down 2.3%

Shares of ABVX opened at $84.01 on Friday. Abivax has a 1-year low of $4.77 and a 1-year high of $92.91. The firm has a 50 day simple moving average of $59.72 and a 200-day simple moving average of $24.96. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.77 and a quick ratio of 1.25.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Monday, September 8th. The company reported ($0.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. Analysts anticipate that Abivax will post -2.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ABVX. Octagon Capital Advisors LP acquired a new stake in shares of Abivax in the first quarter valued at approximately $7,688,000. ADAR1 Capital Management LLC raised its holdings in shares of Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock valued at $13,813,000 after purchasing an additional 696,626 shares during the last quarter. Allostery Investments LP raised its holdings in shares of Abivax by 86.0% in the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock valued at $6,873,000 after purchasing an additional 508,401 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Abivax by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company’s stock valued at $6,264,000 after purchasing an additional 389,247 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in shares of Abivax by 52.5% in the second quarter. Boothbay Fund Management LLC now owns 870,438 shares of the company’s stock valued at $6,659,000 after purchasing an additional 299,770 shares during the last quarter. Institutional investors own 47.91% of the company’s stock.

Abivax Company Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.